Oppenheimer Asset Management Inc. Has $964,000 Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Oppenheimer Asset Management Inc. raised its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,595 shares of the construction company’s stock after buying an additional 553 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tri Pointe Homes were worth $964,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its position in shares of Tri Pointe Homes by 562.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,900 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Tri Pointe Homes by 51.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after purchasing an additional 789 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Tri Pointe Homes during the third quarter worth about $184,000. Blue Trust Inc. raised its position in shares of Tri Pointe Homes by 72.8% during the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock worth $148,000 after purchasing an additional 1,725 shares during the period. Finally, KBC Group NV raised its position in shares of Tri Pointe Homes by 65.9% during the fourth quarter. KBC Group NV now owns 4,254 shares of the construction company’s stock worth $154,000 after purchasing an additional 1,690 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Stock Up 0.6 %

TPH stock opened at $31.14 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $35.33 and a two-hundred day moving average price of $40.10. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 6.45, a P/E/G ratio of 0.67 and a beta of 1.64. Tri Pointe Homes, Inc. has a twelve month low of $30.25 and a twelve month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has approved a stock buyback program on Wednesday, December 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the transaction, the chief operating officer now directly owns 708,159 shares in the company, valued at $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Evercore ISI decreased their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Finally, Oppenheimer decreased their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes currently has an average rating of “Hold” and a consensus target price of $40.60.

About Tri Pointe Homes

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.